“I have not seen capital markets in the junior industry this gloomy for a decade,” Rick Rule told clients of Sprott Global Resource Investments Ltd. on a conference call Monday, November 18.
“Twice before, I have been in a market this gloomy,” Rick continues, “in 1991 and 2000. Within a year and a half of both periods, the market went much higher. In 1991, the benefits to me were spectacular. And the recovery off the 2000 low was even better by a large margin.
“Now, after three years of pain, I suggest it is in your interest to hang around for the gain,” he says.